金新農(002548.SZ):2021年開展的期貨期權套期保值業務保證金最高佔用額不超3.5億元
格隆匯 12 月 30日丨金新農(002548.SZ)公佈,公司於2020年12月30日召開的第五屆董事會第六次(臨時)會議審議通過了《關於2021年度開展商品期貨期權套期保值業務的議案》。
2021年開展的期貨期權套期保值業務保證金最高佔用額不超過人民幣3.5億元。
玉米、豆粕、油脂和糖類等是公司飼料產品的主要生產原料,採購成本通常佔公司總體經營成本的50%以上,公司鑑於當前的庫容條件及資金使用情況,對原料的採購往往採取價格低時多買,價格高時少買策略,爭取將全年的原料平均採購價格保持在一定水平,但操作上存在兩種風險,即在價格低時,大量採購原料會佔用資金,同時還佔用大量的庫存,原料損耗也較大;在價格高時,儘量控制原料採購數量也會對正常生產造成影響,同時還有可能失去一定的市場份額,為此通過控制原料數量的採購方式來控制原料價格效果較為有限。
在合理的範圍內進行套期保值,有助於公司有效規避市場風險,對沖原材料價格波動對公司生產經營的影響,穩定年度經營利潤,減少和降低原材料價格波動對公司正常生產經營的影響。運用期貨套期保值這一工具也是加強公司集中採購的手段,通過對全公司玉米、豆粕和油脂及糖類等使用量進行套保操作,有效地對玉米、豆粕和油脂及糖類等採購頭寸進行統籌管理,對一些採購能力較弱的公司起到幫扶作用。
我國是全球第一大生豬生產國及豬肉消費國,生豬出欄量及豬肉消費量佔全球的比重均在50%以上。但長期以來,我國生豬產業深受“豬週期”困擾,生豬現貨價格的劇烈波動給產業企業運營帶來極大的不確定性。生豬期貨上市後,養殖企業可以利用生豬期貨的價格發現功能及時調整生豬的生產計劃;還可以利用生豬期貨鎖定遠期價格及養殖利潤,對沖生豬價格及養殖利潤波動風險,實現企業穩定經營的目標,保證企業現金流安全。
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